Oroco Completes Cerro Prieto Surface Rights Payments

September 14, 2011

VANCOUVER, British Columbia – (September 14, 2011) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce that pursuant to the terms of the surface rights lease agreement relating to its Cerro Prieto Oxide Gold Project in Sonora State, Mexico, the Company has completed those payments required to secure the use of the subject 1050 hectares for the initial term of seven years, thereby allowing the commencement of mine construction on the property.  The Cerro Prieto Project is situated within a privately owned ranch, approximately 28 km southeast of the town of Magdalena de Kino, Sonora State, Mexico.

Funds for the lease payments were provided by way of a bridge loan from the New York-based institutional investor with whom the Company has recently entered into an indicative term sheet relating to an $18-million (U.S.) gold prepayment agreement specific to the Cerro Prieto Project (see Oroco news release dated June 17, 2011).

About Oroco:
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Project in Sonora State, Mexico.  A Preliminary Economic Assessment relating to the Cerro Prieto Project was filed by the Company on January 29, 2011.  Consistent with its goal of realizing near term gold production at Cerro Prieto, Oroco has also recently engaged Sonoran Resources, LLC, an experienced construction management company based in Somerton, Arizona, to provide engineering, procurement and construction management services for the project.

For further information, please contact: 
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Subscribe for Updates

These historical resource estimate models are based upon historical resource estimates prepared by John Thornton in 2011. While, in the opinion of Dane A. Bridge, author of the revised NI 43-101 standard technical report, Geology, Mineralization and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, Sinaloa, Mexico dated April 21, 2020 (the “Report”), reliable estimation practices were used, in order to upgrade or verify the historical estimations, resampling and assay of historical drill samples, twinning of historical drill holes, and a new program of regularly spaced drilling is required. No qualified person has undertaken sufficient work to classify the current mineral resources or mineral reserves upon which these models are based and the Company is not treating the estimates as current estimates of the mineral resources. The Company gives no assurance that either these models or the historical resource estimates upon which they are based are accurate, and does not undertake any obligation to update the models or to release publicly any update or revisions of the resource estimates except as required by applicable securities law. The reader is cautioned not to rely upon these models or the historical resource estimates upon which they are based.

Please signify your understanding:

I Agree